2880 Fairgreen Dr, Miami Beach, FL 33140 — MLS photo

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2880 Fairgreen Dr, Miami Beach, FL 33140

Active · SingleFamilyResidence

$4,950,000

2880 Fairgreen Dr, Miami Beach, FL 33140

Beds
5
Baths
4
Living area
3,626 sq ft
$ / sq ft
$1,365/sq ft
Year built
1933
Lot size
13,900 sq ft
HOA fee
—
Annual tax
—

About this property

The 1933 house is gone. What's left is a corner lot in Mid Beach, 13,666 SF with 235 feet of frontage on two streets, cleared and ready, and a complete sealed set of drawings by Touzet Studio, AIA Miami Firm of the Year. In for permit with the City of Miami Beach, process BR2611872. Six bedrooms, six full baths and a powder room across 6,833 square feet plus a 2 car garage. The house is lifted. You pass underneath it through a covered outdoor living room, dining and kitchen, and the lowest habitable floor sits nine feet above base flood at 17'6" NGVD. A glass rotunda with spiral stair and elevator anchors the corner. Terrazzo floors, stone feature walls, two kitchens, a gym, a pool at grade with lawn behind, a wellness deck with sauna, plunge and hot tub, a sun deck, a roof terrace, rooftop solar. That is the part land buyers rarely get handed. The slowest and most expensive year of a ground-up build, the design and the engineering and the walk into permitting, is already done and conveys with the lot. Fairgreen Drive is one short, quiet block. A block to the new Bayshore Park, a walk to the Miami Beach Golf Club and the sand, five minutes to Lincoln Road and Sunset Harbour. Temporary electric is in. Bring your builder, or refine the plans and make them yours. Either way you start years ahead.

Property location

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2880 Fairgreen Dr, Miami Beach, FL 33140

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Facts & features

Interior

Bedrooms
5
Bathrooms
4
Living area
3,626 sq ft

Exterior & Structure

Property type
SingleFamilyResidence
Year built
1933
Lot size
13,900 sq ft

Parking

Not provided in the MLS listing.

HOA, Community & Financials

County
Miami-Dade
MLS listing ID
A11967084
Listing status
Active

Investment intelligence

Yield & ROI calculator

Pre-filled from this listing's price, HOA and tax record. Adjust anything to see returns update instantly.

Estimated monthly cash flow

-$16,065

Cap rate
1.8%
Net yield
1.8%
Cash-on-cash return
-13.9%
Gross yield
4.9%
Mortgage payment
$23,466/mo
Down payment
$1,237,500
Loan amount
$3,712,500
Annual NOI
$88,801

Estimates only — includes 5% maintenance reserve and ~3% closing costs in cash invested. Verify taxes, HOA and insurance before making an offer.